Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

A Turkish coup, a family torn apart, a dramatic escape on foot: ‘Can you believe the things we went through?’

She could stay in Turkey where she might end up imprisoned, at risk of torture and sexual assault, and separated from her young children. Or she could take them on a dangerous journey, with no guarantee of survival.

Minister’s remarks on Gülen cause AK Party members to resign

“The reason we have decided to quit is the defamation campaign launched against the Hizmet movement and its moral leader, Gülen, after the Dec. 17 operation that has occupied the [country’s] agenda for the last month,” Kara said, adding that the ugly allegations and defamation campaign against Gülen have offended their consciences.

Nigeria – Our students should not be victims of Turkey’s high-handedness and authoritarianism

We strongly condemn the arrest, detention and deportation of some Nigerian students from Turkey’s capital city, Istanbul, over the botched coup in the country. The harassment and intimidation of our students by the Turkish Government over a matter that does not concern them is undiplomatic and utterly reprehensible. The Turkish government should not visit the punishment for the alleged actions of its political enemies on innocent Nigerian students.

Gülen’s lawyer dismisses wiretapping claims

In his statement, Gülen’s lawyer Albayrak said the allegations which appeared in some newspapers is totally baseless and targets Gülen in an unfair way and demands punishment for the individuals who were involved such accusations

Ex-AK Party delegate slams persecution of Hizmet movement

There are few individuals in Turkish political history with such a long career as Haluk Özdalga. Having formerly served with the Democratic Left Party (DSP) and the Republican Peoples Party (CHP), Özdalga joined the AK Party (the ruling Justice and Development party) with high hopes for democracy in 2007.

Hira Magazine Brings Together Arab Scholars in Istanbul

Egypt’s prominent scholars came together at a conference titled “According to Gülen, the Basic Dynamics of the Resurrection” on Thursday in Istanbul. The Egyptian scholars have shared the results of their study on “the horizon of thought” of the scholar Fethullah Gülen. Nevzat Savaş, the editor-in-chief of Hira magazine, said “We hosted guests from some […]

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Funeral prayer held for Turkish volunteer Zengindemir in Oklahoma City

Australian PM praises int’l language festival’s contribution to peace

Gulen says he is certain Erdogan behind failed Turkey coup

Pained by the tragedy, Izmir doctor moves to Somalia

Turkish preacher isn’t running terrorist gang

Former TÜBİTAK VP: Over 250 dismissed in 2 months

Three political risks that Turkey might be exposed to

Copyright 2026 Hizmet News